Torrent Power Q1 profit surges 87% to ₹996 cr; stock hits 52-week high
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Torrent Power has reported a 87.15% increase in net profit at ₹996.3 crore for the first quarter of the fiscal year 2024-25, compared to ₹532.3 crore in the same period last year. The strong growth in net profit was attributed to sales from gas-based power plants and growth in licensed distribution businesses. Torrent Power's earnings per share (EPS) rose to ₹20.23 in June 2024, up from ₹10.76 in June 2023.
The company's revenue from operations also witnessed a rise of 23.28%, climbing to ₹9,033.7 crore compared to ₹7,327.6 crore in the previous year. EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter grew by 52% year-on-year (YoY), totaling ₹1,934 crore, up from ₹1,270.48 crore in June 2023.
Torrent Power distributes approximately 30 billion units of electricity to over 4.13 million customers across various regions, including Ahmedabad, Gandhinagar, Surat, Dahej SEZ, and Dholera SIR in Gujarat; the Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD); as well as Bhiwandi, Shil, Mumbra, and Kalwa in Maharashtra, and Agra in Uttar Pradesh.
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